Socialist Banner has posted several times on Africa's "oil curse", and Time carries an interesting article that is worth posting extracts from.
Auwal Musa Ibrahim a Nigerian anticorruption campaigner explains that "Our oil powers the world. But in Africa, it creates places in which no longer do people think about how to build a nation, only how they can steal from it."
Nigeria, with close to 3% of global oil deposits, is Africa's Great Shame. The World Bank estimates the country's generals and gangster politicians stole $300 billion in the three decades to 2006.
The days when ordinary Africans stood by as their continent's riches were plundered, by foreigners or by their own rulers, are drawing to a close. But a time when Africa's oil is nothing but a blessing still seems a long way off.
Commentary and analysis to persuade people to become socialist and to act for themselves, organizing democratically and without leaders, to bring about a world of common ownership and free access. We are solely concerned with building a movement of socialists for socialism. We are not reformists with a programme of policies to patch up capitalism.
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